Mercedes-Benz found guilty of price manipulation in China

|By:, SA News Editor

China's anti-trust regulator has found Mercedes-Benz (OTCPK:DDAIY) guilty of manipulating prices for after-sales services, says Reuters quoting the Xinhua news agency.

The auto market and other industries have been under investigation in China, as the country increases its efforts to bring companies into compliance with its 2008 anti-monopoly law.

The legislation allows China's National Development and Reform Commission, to impose fines of up to 10% of a company's Chinese revenues for the previous year.